Successful Securitizations
In the second quarter, PMT completed three securitizations of Agency-eligible investor loans totaling $1.1 billion in UPB and a jumbo loan securitization with a total UPB of $339 million. This highlights PMT's strong position as a leading issuer of private label securitizations.
Strong Credit Performance
PMT's credit risk transfer investments have low delinquencies due to strong consumer credit and substantial home equity, with a low weighted average current loan-to-value ratio below 50%.
Increased Correspondent Loan Acquisition
Total correspondent loan acquisition volume was $30 billion in the second quarter, up 30% from the prior quarter.
Improved Run Rate Return Potential
The run rate return potential for the next four quarters is expected to be $0.38 per share, up from $0.35 per share in the prior quarter.